Question for Grob/Hershey...
- Thread starter makosgu
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OK guys, Ill back off. I think I need to retire from the advice business. My sole objective has been to try to steer beginners away from the hard stuff and to get them to start with one simple thing and work their way up but I guess its useless. I cant say much as I did the same thing for almost four years. Maybe your way is easy and Im full of shit. Who knows. Ill keep my moth shut.
1) 2 points a day = millionaire
2) Turn off your computer speakers and just focus visually. If you need some noise, turn on cartoons or music. The "Beep" or "Boink" you hear when entering and exiting will mess with your head.
3) And NEVER go to Paltalk, CNBC or chatrooms to see what others are doing - if you do , plan on years of frustration.
I wish someone would have told me the above 3 things six years ago. My green arse was focusing on SCT and huge points. Learn from my mistake.
still working out the kinks... i'm only concentrating on shorting the top band or buying the lower band...because that's what i can SEE, for now.
what i'm seeing for my entries is that there are two spots where washing outright doesn't appear to be possible....and so a small loss is necessary to take in order prevent, 'what COULD happen'.
i'm seeing that when i have a 'good' trade going, then price doesn't go against me more than 5 ticks...
but it's insufficient from my view to just say that.
something else i see...
the two cases where locking in a loss SEEMS required to me is
1. the rapid fire reversal against my position. 1-5 ticks
this CAN provide a near-wash opportunity but only if a market order is hit resulting potentially in +1- -4 ticks
2. the marching reversal against my position. 1- who knows ticks
it's rather rare, but it's just a steady relentless march of price. and there is little if any retracement.
what i am seeing is that my entries take place as the market turns...or potentially turns...and that the target or exit is along the mid-line....which is adjusted per bar...so what may have started out as a 10 tick target, you might get out at BE.
(that's theory, i'm still looking at it).
i'm open to comments on what i may be missing, if anything.
if this is too far off topic, don't hesitate to say so, i'll shut up.
what i'm seeing for my entries is that there are two spots where washing outright doesn't appear to be possible....and so a small loss is necessary to take in order prevent, 'what COULD happen'.
i'm seeing that when i have a 'good' trade going, then price doesn't go against me more than 5 ticks...
but it's insufficient from my view to just say that.
something else i see...
the two cases where locking in a loss SEEMS required to me is
1. the rapid fire reversal against my position. 1-5 ticks
this CAN provide a near-wash opportunity but only if a market order is hit resulting potentially in +1- -4 ticks
2. the marching reversal against my position. 1- who knows ticks
it's rather rare, but it's just a steady relentless march of price. and there is little if any retracement.
what i am seeing is that my entries take place as the market turns...or potentially turns...and that the target or exit is along the mid-line....which is adjusted per bar...so what may have started out as a 10 tick target, you might get out at BE.
(that's theory, i'm still looking at it).
i'm open to comments on what i may be missing, if anything.
if this is too far off topic, don't hesitate to say so, i'll shut up.
Hey, Mak,
Franz uses an enhanced support/resistance system that plots target prices 30 minutes or more ahead of arrival. It simplifies trading greatly.
Many people pay for signals there and elsewhere. Compared to generating them yourself, I guess you could say it's a baby bottle. His are definitely the most reliable I've seen, although not perfect.
His signals work incredibly well on range days, and he's just developed a trend-following signal that is in beta.
New article on him in Traders World mag.
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